As a real estate consultant who converses with different clients, I get asked this question a lot.
So I have decided to put out this article to answer this question, So if you have been wondering
if foreigners can buy land in Nigeria, make sure you read this post to the end.
Can you buy land in Nigeria as a foreigner?
The answer is YES, A foreigner can own land in Nigeria, but this is subject to certain
restrictions identified under the ALAL.
The chief restriction under ALAL is the requirement for
the State Governor’s_ written approval before the instrument of transfer could be lawfully
executed. Failing which subsequent transfer instrument may be regarded as void abinitio.
ALAL_ provides that:
“No alien shall acquire any interest or right in or overland from a native of Nigeria unless the
transaction under which the interest or right is acquired has been previously approved in writing
by the Governor”.
ALAL_ further provides that:
“Any agreement and any instrument_ in writing or under seal by or under which an alien
purports to acquire any interest or right in or over any land (other than an interest or right
acquired pursuant to the provisions of this Law and regulations or orders made thereunder) and
which forms part of or gives effect to a transaction that has not been duly approved in
accordance with the provisions of this Law shall be void and of no effect”
Putting it simply, an alien can acquire interest or rights in Land from a Native of Nigeria,
provided the written approval of the Governor is first sought and had_before the relevant
instruments are executed between the alien and the native of Nigeria.
If you’re interested in owning landed properties in the fastest developing part of Lagos State,
contact us via phone 09024554979 you can visit our head office Suites 201 & 202 Akord shopping mall
bogije Ibeju-lekki Lagos.